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    Home ยป Whats Next for Dogwifhat Meme Cryptocurrency as Major Investors Sell Off
    Altcoin

    Whats Next for Dogwifhat Meme Cryptocurrency as Major Investors Sell Off

    By adminJun. 21, 2024No Comments2 Mins Read
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    Whats Next for Dogwifhat  Meme Cryptocurrency as Major Investors Sell Off
    Whats Next for Dogwifhat Meme Cryptocurrency as Major Investors Sell Off
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    The large holder of Dogwifhat (WIF), commonly known as a whale, triggered a price drop by selling off a majority of their holdings. This selling pressure deepened the downward trend, causing WIF’s value to drop by 21% in the past week and over 32% in the past month.

    According to reports, a major whale from Dogwifhat transferred 59,700 WIF tokens to Binance, worth slightly over $120,000, further reinforcing the recent downward trend of the coin.

    ICYMI: Someone sent a SOLANA Memecoin worth approximately $121,000 to Binance.

    Earlier this week, another whale liquidated tokens worth around $35,000 in a short period of time.

    Due to these massive sell-offs, the price of WIF plummeted by 24% in the past 7 hours, breaking the crucial support level of $2, and is currently trading at $1.89.

    Read more: [Image]

    Based on this fundamental indicator, the altcoin season is set to begin early.

    What’s more, Dogwifhat’s market capitalization has decreased by just over 7%, reaching $188.3 million. Despite the price drop, WIF’s trading volume has increased by approximately 24% in the past 5 hours, reaching $39.93 billion, indicating increased market activity due to recent whale sell-offs.

    Looking ahead, with the breakthrough of the $2 support level and ongoing sell-offs by large investors, the future of Dogwifhat remains bearish. Unless there is a significant shift in market sentiment or a restoration of confidence in cryptocurrencies, it is expected that WIF will further decline soon. [Image]

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